Intel's CEO Sold $24 Million In Stock After Learning About Security Flaw

darrpara said:
Not sure if it has been mentioned but there is very likely not a problem with this. My experience in the corporate world is that these stock sales are often planned months in advance and usually done fairly regularly.
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intel knew about these flaws in June
 
NoOther said:
I highly doubt that since his net worth is estimated at below 100 million. Meaning that 24 million is about a quarter of his entire net worth. That is a pretty large chunk of change. Unless you are telling us your networth is only $80.
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Wait, the godamn CEO of Intel, the biggest computing company in the universe has a net worth of UNDER 100 million?

That's genuinely surprising. I was expecting his Christmas bonus to be in the order of 300 Mil...
 
And here I was thinking he sold based on the x299 VRM heatsink fiasco.
 
Intel is the biggest provider of backdoors (Intel ME) for the NSA and others to use. No way in hell is this guy getting punished.
 
Imhotep said:
The CEO was made aware of the flaw well after he sold his stock. That is how it will go down. :D
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This is true, considering the security flaw has been known to Intel for at least a decade.
 
Seventyfive said:
This kind of thing pisses me off so bad. As someone that works in the financial industry I can safely say we're more heavily regulated than healthcare providers. If I don't archive my emails, fail to post a single trade, buy something suspiciously but not illegally, etc... I go to jail. If some politician deletes 30,000 emails, NBD, someone leaks classified information to the press and lies under oath NBD, some fuckers sell their stock based on negative material inside information, NBD.

This is the kind of thing that ultimately leads to vigilante justice.
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It's better to stop caring so much about those others and just expect such a system to destroy itself eventually. Which it's currently in the process of.
 
The stock price is the same as it was when he sold it and everyone is still freaking out. Investigate him of course, but I find it truly hard to believe that someone so smart could be so stupid. Likely nothing will happen because everything was perfectly legal. He didn't sell BECAUSE of the exploit, he sold because the stock's doing the best it has in a long time. Still poor decision, but not malicious.
 
KazeoHin said:
Wait, the godamn CEO of Intel, the biggest computing company in the universe has a net worth of UNDER 100 million?

That's genuinely surprising. I was expecting his Christmas bonus to be in the order of 300 Mil...
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He only became C level in 2012 and CEO in 2013. His compensation package for being CEO is 19 million a year.
 
RayderR6 said:
You both got that right, unfortunately the SEC has become toothless and can easily be bought off, it will only get worse by this admin.
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Only get worse? Obama literally let every single bank exec off the hook for the financial crisis. Every one. No changes were even made to the laws to try and prevent it from really happening again. Then he goes on post presidential speaking tours with these same companies getting paid 6 figures.
 
SilverSliver said:
Only get worse? Obama literally let every single bank exec off the hook for the financial crisis. Every one. No changes were even made to the laws to try and prevent it from really happening again. Then he goes on post presidential speaking tours with these same companies getting paid 6 figures.
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You'll never find me cheerleading for Obama, but he didn't appoint people to heads of departments that wanted nothing more than to tear that department down or didn't even know what the department did. Obama did try to state some laws, but he was the executive branch, the legislative branch fought everything he wanted. George W didn't do a damn thing about it either, even Europe did very little about it (they convicted some of the Lipor asshats). Elizabeth Warren and Al Franken were the two best advocates the people had with financial institution scrutiny, now Al is out (that fucking dumbass).

The sooner people realize that members of both sides of the isle are truly working against the common man and for the bad ultra rich and destruction of civility, the better. Stop bickering with each other and see the true enemy, they're winning by playing us against each other, divide and conquer while writing legislation that will legally be able to quell any revolution.
 
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OldBuzzard said:
Something I find interesting.

So you are complaining about him being a douche, and "Something needs to be done", or that "there is no justice".

Yet in EVERY case where your computer specs are shown in your sig, YOU ARE ALL USING INTEL CPUs!

Instead of just sitting on your butts behind a keyboard and bitching, why don't you actually do something about it?

How about doing what I have been doing since the Athlon days when Intel started their illegal practices and VOTE WITH YOUR WALLET.

I have never bought an Intel CPU because of their shady and illegal business practices. I refuse to reward criminals for their illegal behavior.
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Yes do that, sell every intel cpu, so I can get 18 cores for $10. Who gives a fuck about a minor security hole on a rendering rig?
 
RayderR6 said:
You'll never find me cheerleading for Obama, but he didn't appoint people to heads of departments that wanted nothing more than to tear that department down or didn't even know what the department did. Obama did try to state some laws, but he was the executive branch, the legislative branch fought everything he wanted. George W didn't do a damn thing about it either, even Europe did very little about it (they convicted some of the Lipor asshats). Elizabeth Warren and Al Franken were the two best advocates the people had with financial institution scrutiny, now Al is out (that fucking dumbass).

The sooner people realize that members of both sides of the isle are truly working against the common man and for the bad ultra rich and destruction of civility, the better. Stop bickering with each other and see the true enemy, they're winning by playing us against each other, divide and conquer while writing legislation that will legally be able to quell any revolution.
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Did he get up on TV and call anyone out for inaction? Did he get his base outraged on Twitter that the guilty we're going free? Nope. He just cashed their checks first thing after leaving office.
 
What are people in these situations supposed to do? If you knew you may lose a lot of money you're supposed to just sit there? It's like knowing you're going to get punched in the face and instead of moving left or right you just take it.
 
htpc_user said:
What are people in these situations supposed to do? If you knew you may lose a lot of money you're supposed to just sit there? It's like knowing you're going to get punched in the face and instead of moving left or right you just take it.
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You missed out on the definition of insider trading?
 
htpc_user said:
What are people in these situations supposed to do? If you knew you may lose a lot of money you're supposed to just sit there? It's like knowing you're going to get punched in the face and instead of moving left or right you just take it.
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Yes. It's the very definition of insider trading. You are the CEO, or in a position of knowledge for a publicly traded company with information that the general investor base does not have. You 100% cannot use knowledge like that to your benefit. Period.
 
thesmokingman said:
You missed out on the definition of insider trading?
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Yes, I know the definition of insider trading. That's what I'm saying; it would be hard if someone opens your door and says, "Hey boss, just discovered our product has a huge flaw that is going to cost us big time...I'm going to lunch," that you just have to take it on the chin.
 
htpc_user said:
Yes, I know the definition of insider trading. That's what I'm saying; it would be hard if someone opens your door and says, "Hey boss, just discovered our product has a huge flaw that is going to cost us big time...I'm going to lunch," that you just have to take it on the chin.
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Huh? You have a chance to sell when everyone else has a chance. If you were able to keep it a secret what's to stop those in the know from abusing that right? And if you have a huge flaw in your product you deserve to take the hit on it, not profit off it while everyone else loses. WTF?
 
thesmokingman said:
Huh? You have a chance to sell when everyone else has a chance. If you were able to keep it a secret what's to stop those in the know from abusing that right? And if you have a huge flaw in your product you deserve to take the hit on it, not profit off it while everyone else loses. WTF?
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I think what he's getting at is that obeying the law can hurt your profits and that can be hard on CEOs.
 
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